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Political Factoid
Banks and other credit card lenders
gave out over a million new cards
in December 2011 to subprime
borrowers (i.e., people with damaged credit)
... as such borrowers typically
have to pay interest rates as
high as 29 percent, and often
rack up fees for late payments.
The loans sharks of the old back alleys now
have Wall Street alley respectability.
cf.
787,
1st Premier
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